#BounceBit BullRun Incoming ⁉️

.

.

.

.

🪷 Fundamentals:

- High TVL compared to market cap.

- Increasing TVL over the last 7 days.

- High trading volume of $500 million.

- Backed by major partners and influencers.

🪷 Technical Analysis:

- Strong resistance level between $0.75-$0.80.

- Expected market volatility in the next 24 hours due to low Sunday volume.

- Relatively uncorrelated with the market, but volatility still impacts.

🪷 My Opinion:

- Staying away from BB for now due to market circumstances.

- Expecting a short-term retrace to $0.65-$0.70.

- Potential breakout above $0.78 could lead to $0.90-$0.95 or $1.

- Needs breakout above $0.78 for confirmation.

🪷 Bearish Case:

- Negative divergence between price and RSI/open interest.

- Likely short-term retrace or pullback before a potential breakout.

$BB $BTC #altcoins #BB